This partnership has been an effective way for Schwab to meet demand while controlling costs.Frank Hynes, VP of Talent Acquisition
Charles Schwab is a leading brokerage and banking company with a 40-year history of innovating and advocating for individual investors and the financial professionals who serve them.
Approximately 14,000 employees work with millions of investors to help them achieve their financial goals, and in growing this customer service driven team, Charles Schwab looks for diverse, committed and high quality candidates.
Going where the talent is
In recruiting at Charles Schwab, the goal is to “go where the talent is, or where it will be,” says Frank Hynes, VP of Talent Acquisition. “That’s difficult in today’s environment because it moves so quickly. In the employment brand space, there’s a lot messages. We’re trying to cut through all the clutter and really have Schwab stand as a beacon that would be attractive to the talent who would be successful here.”
Charles Schwab sponsors jobs on Indeed to attract those candidates, and to get the metrics that help them improve upon their hiring efforts each time. “I equate it to being very surgical,” Hynes said. “Indeed has helped us become a lot smarter. The positions at Schwab, as with any company, are very different…to be able to provide a hiring manager with that exact quality hiring pool that they’re looking for is one of the biggest benefits we’ve found from Indeed.”
I equate it to being very surgical. Indeed has helped us become a lot smarter.Frank Hynes, VP of Talent Acquisition
Knowing the data, and acting upon it
By partnering with Indeed, Hynes’ team is able to precisely target the best quality candidates. In three years, hires from Indeed tripled from 5% to 15%. With the cost per hire from Indeed at $245 compared to $2,000 on traditional job boards, this partnership has been an effective way for Schwab to meet demand while controlling costs.
“We’ve talked about this a lot in my leadership team, the need for speed, because the market is moving so quickly, if we’re left flat-footed, we’ll be wondering why we didn’t get the talent we need,” Hynes explained. “Knowing the data is one thing, acting upon it is another. A big development is marrying the data together…with a set of activities that will capitalize on what the data is telling you. Indeed has become a very trusted partner of Schwab.”